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AYALA
Land Inc. (ALI), the property development unit of Ayala
Corp., reported on Monday a net income of P3.86 billion
for 2006 attributable to equity shareholders versus
P3.61 billion a year earlier.
Consolidated revenues, meanwhile, reached P25.5 billion,
20 percent better than 2005’s P21.4 billion, despite the
absence of extraordinary gains generated from the sale
of the company’s investment in MRT in 2005.
“The
year 2006 proved to be a successful year for ALI as it
benefited from positive economic developments which
ushered in improved buyer confidence. The company also
continued to capitalize on the significant growth in the
markets that depend on overseas Filipino workers and
business process outsourcing (BPO), which buoyed demand
for residential and commercial real-estate products,”
said company president Jaime I. Ayala in a statement.
ALI’s
residential development business accounted for the bulk
of revenues at P14.0 billion or 55 percent of total
revenues. A close second was the contribution by its
shopping centers at P4 billion, followed by corporate
business at P1.3 billion. Strategic landbank management
contributed P707 million, while Visayas-Mindano
generated P168 million. The support businesses that
comprise of hotels, construction and property
management, reported revenues of P3.4 billion.
Company revenues contributed by its residential
development business were buoyed by Ayala Land Premier
(ALP) and Community Innovations, Inc. Revenues of ALP
reached P8.5 billion, 65 percent more than the previous
year. Revenues booked from the sale of 430 condominium
units reached P5.3 billion, more than double 2005’s P2.6
billion, while the sale of 456 lots generated P2.7
billion in revenues. Lots booked included 216 in Ayala
Westgrove Heights and 135 in Ayala Greenfield Estates.
ALI’s first leisure community project, Anvaya Cove,
contributed P593 million in revenues. This is a
242-percent increase from last year’s revenues, as an
additional 402 beach club shares, 57 lots and 7 villas
were booked.
Community Innovations, for its part, reported revenues
of P3.7 billion, 71 percent higher than 2005’s P2.2
billion. A total of 785 units were booked, 37 percent
higher year-on-year, mainly coming from high-rise
projects. The Columns at Ayala Avenue and its Legazpi
Village sequel accounted for 74 and 302 units,
respectively, while Two Serendra contributed 163 units.
Meanwhile, Avida Land’s revenues amounted to P1.8
billion. This translates to an 18 percent decline from
last year’s revenues mainly due to the standardization
of the revenue recognition policy in the second quarter
of 2006.
The
shopping centers, on the other hand, reported a 12
percent rise in revenues to P4 billion in 2006. This is
attributed to the higher occupancy rate across all
malls, which averaged at 92 percent from 91 percent in
2005. A higher average rent and the increase in gross
leasable area (GLA) from 754,000 square meters to
760,000 square meters were also cited responsible for
these gains.
The
increase in GLA is mainly from the 6,400-square meter
Shops at Serendra which soft opened in July. Its
occupancy rate averaged at 31 percent in 2006 and, at
the end of the year, spaces were nearly fully leased or
committed.
Higher sales from corporate business were boosted by the
sale of 1,407 square meters at Ayala Life-FGU, full year
contribution of the three BPO buildings that began in
the third quarter of 2005 and the 8-percentage-point
rise in 6750’s occupancy rate to 98 percent. On average,
ALI’s traditional office buildings enjoyed an occupancy
rate of 98 percent, an improvement of from 93 percent in
2005.
Further tapping the growing BPO market, ALI will start
the development of two BPO campus projects this year. An
additional 28,000 square meters of GLA will be added by
the first two buildings in the 38-hectare UP Science and
Technology Park project as they get completed in the
last quarter of 2008. In addition, the company will
launch its 20-hectare BPO campus project in Canlubang
within the second half of the year.
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